Patrick Sweeney Joins MSRB Board of Directors

Date: November 12, 2015

Contact: Jennifer A. Galloway, Chief Communications Officer
              (703) 797-6600


Alexandria, VA - The Board of Directors of the Municipal Securities Rulemaking Board (MSRB) announced today that Patrick Sweeney has joined the Board of Directors. The 21-member Board of Directors makes policy decisions, authorizes rulemaking, enhances market transparency systems and oversees operations of the MSRB.

Sweeney is Senior Vice President and Manager of the Municipal Securities Department at Fidelity Capital Markets, a unit of Fidelity Investments. He is responsible for managing municipal fixed income trading and underwriting, as well as overseeing risk for the department.  Sweeney joined Fidelity in 1987 and was previously head of corporate bond trading. Prior to that, he was head of tax-exempt and taxable fixed-income trading and institutional sales. In his current role, he also has a strategic focus on electronic trading for the fixed income markets. Sweeney fills the vacancy on the MSRB Board created by the resignation of Edward Tishelman, a regulated representative on the Board.

“Pat has more than 30 years of experience in fixed income markets and is well versed in trading and underwriting municipal securities,” said MSRB Chair Nathaniel Singer. “Given his focus on new issue municipal securities and electronic offerings, he can assist with the Board’s retail investor-focused initiatives and support our market transparency goals.”

Prior to joining Fidelity, Sweeney was a municipal trader at Merrill Lynch from 1983 to 1987. He received a bachelor’s degree from the University of Massachusetts.

Sweeney will serve on the Board’s Nominating and Governance Committee during the current fiscal year. His term on the Board expires in September 2018. 

The MSRB protects investors, state and local governments and other municipal entities, and the public interest by promoting a fair and efficient municipal securities market. The MSRB fulfills this mission by regulating the municipal securities firms, banks and municipal advisors that engage in municipal securities and advisory activities. To further protect market participants, the MSRB provides market transparency through its Electronic Municipal Market Access (EMMA®) website, the official repository for information on all municipal bonds. The MSRB also serves as an objective resource on the municipal market, conducts extensive education and outreach to market stakeholders, and provides market leadership on key issues. The MSRB is a self-regulatory organization governed by a 21-member board of directors that has a majority of public members, in addition to representatives of regulated entities. The MSRB is overseen by the Securities and Exchange Commission and Congress.